Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners

FNSORG301 Mapping and Delivery Guide
Administer fixed asset register

Version 1.0
Issue Date: May 2024


Qualification -
Unit of Competency FNSORG301 - Administer fixed asset register
Description
Employability Skills
Learning Outcomes and Application This unit describes the skills and knowledge required to maintain a register of capital expenditure items.It applies to individuals who operate under some supervision in asset control roles in organisations of various sizes.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Duration and Setting X weeks, nominally xx hours, delivered in a classroom/online/blended learning setting.

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the organisational skills field of work and include access to:

common office equipment, technology, software and consumables

organisational policy and practices

asset register systems and data.

Assessors must satisfy NVR/AQTF assessor requirements.
Prerequisites/co-requisites
Competency Field
Development and validation strategy and guide for assessors and learners Student Learning Resources Handouts
Activities 		Slides
PPT 		Assessment 1 Assessment 2 Assessment 3 Assessment 4
Elements of Competency Performance Criteria              
Element: Reconcile asset register to general ledgers
  • Record all expenditure items in accordance with organisational policy, procedures and practices
  • Identify and action discrepancies according to organisational policy, procedures and practices, and relevant legislation
       
Element: Recognise new assets and asset categories
  • Identify new asset categories
  • Prepare and process proforma for input of asset details within month of purchase
       
Element: Prepare schedules and ad hoc reports
  • Update depreciation expense regularly according to depreciation schedule
  • Prepare spreadsheets and reconciliations in accordance with annual tax schedule, with allowance made for permanent differences
  • Prepare spreadsheets and ad hoc reports as requested
       


Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Reconcile asset register to general ledgers

1.1 Record all expenditure items in accordance with organisational policy, procedures and practices

1.2 Identify and action discrepancies according to organisational policy, procedures and practices, and relevant legislation

2. Recognise new assets and asset categories

2.1 Identify new asset categories

2.2 Prepare and process proforma for input of asset details within month of purchase

3. Prepare schedules and ad hoc reports

3.1 Update depreciation expense regularly according to depreciation schedule

3.2 Prepare spreadsheets and reconciliations in accordance with annual tax schedule, with allowance made for permanent differences

3.3 Prepare spreadsheets and ad hoc reports as requested

Evidence of the ability to:

record accurate transaction details and produce reconciliation reports using IT systems

apply relevant reconciliation processes and manage depreciation schedules.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

describe basic accounting principles relevant to administration of fixed assets

explain basic finance industry administration processes and procedures relevant to administering the asset register

list the features of fixed asset registers

define the role and structure of general ledgers

outline key requirements of organisational policy and procedures relating to administration of fixed assets

identify legal requirements regarding capital asset purchase and depreciation administration

identify banking processes relevant to administration of fixed assets.

Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Reconcile asset register to general ledgers

1.1 Record all expenditure items in accordance with organisational policy, procedures and practices

1.2 Identify and action discrepancies according to organisational policy, procedures and practices, and relevant legislation

2. Recognise new assets and asset categories

2.1 Identify new asset categories

2.2 Prepare and process proforma for input of asset details within month of purchase

3. Prepare schedules and ad hoc reports

3.1 Update depreciation expense regularly according to depreciation schedule

3.2 Prepare spreadsheets and reconciliations in accordance with annual tax schedule, with allowance made for permanent differences

3.3 Prepare spreadsheets and ad hoc reports as requested

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Record all expenditure items in accordance with organisational policy, procedures and practices 
Identify and action discrepancies according to organisational policy, procedures and practices, and relevant legislation 
Identify new asset categories 
Prepare and process proforma for input of asset details within month of purchase 
Update depreciation expense regularly according to depreciation schedule 
Prepare spreadsheets and reconciliations in accordance with annual tax schedule, with allowance made for permanent differences 
Prepare spreadsheets and ad hoc reports as requested 

Forms

Assessment Cover Sheet

FNSORG301 - Administer fixed asset register
Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSORG301 - Administer fixed asset register

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: